Chosen by Asker

That doesn't seem too bad but it also depends on your monthly income? If you are raking in 100k +, then you're fine. But if you are just starting out and you have a modest income, then this is high. Here is a rule of thumb: Credit card debt should be no more than 5% of your gross income. If yu make $20,000 a year, your credit card debt should be $1,000. (20,000 x 5%). But most Americans are way higher than this. Good luck.

by Joseph C

4 weeks ago

Asker's Rating: 

i owe zero on my visa and zero on my american express....pay in full each month...

by Ara- 4 weeks ago

over 10k on about 7 different credit cards. waiting for stupid Obama to give me my 8k house credit so I can pay it off.

by D- 4 weeks ago

uh ?

by kbelakziz- 4 weeks ago

About a year ago I owed around $9,000, but after chipping away (and some well timed bonuses), I now have 0 credit card debt. Keep at it! I'd recommend a free budget website like Mint.com. They can help show you areas you can save to help pay those down quicker. Other options would be software like YNAB Pro or Quicken. Best of luck!

by Ryan- 4 weeks ago

$42.00 to Penny's $157.00 to Kohl's Both get paid off in full every month. $677.00 on Visa - also gets paid off in full every month. No other balances. No car loan. And I have a mortgage that will pay off in 6 years. I don't buy anything I can't pay for - even if I put it on a credit card, I know I have the money to pay for it in full when the bill comes.

by PJ- 4 weeks ago

Statistic: More than 50% of the population pay their credit card in full each month. Those are the people that tend to have the 800+ scores since paying in full builds up credit fast. They never pay a penny interest and most get cash back rewards. I got $500 cash back last year - never paid a fee or interest. /

by Judy- 4 weeks ago

I owe zero dollars. I have a visa and a mastercard that each have a credit limit of $5,000 however I do not carry a balance from month to month because I feel it's stupid to pay interest to the credit card companies. I also have some store cards that I use for occasional purchases. I always pay my balance in full so that I'm not wasting my money.

by Heather- 4 weeks ago

Knowing that there may be others that owe more isn't going to make you feel better about your debt, only paying the balances down will give you self satisfaction.

by Tracy H- 4 weeks ago